Chicago partner Keith Anderson was quoted throughout a Chicago Lawyer article, titled “The Rx for M&A.”
The article discusses the increase in hospital mergers and affiliations over the last few years. Keith said that the frenzy of hospitals rushing to merge is comparable to a school dance for teenagers. “Health systems don’t want to be the last person on the dance floor without a partner,” he said.
He noted, however, that hospitals and health systems should really do their homework on what their own needs and objectives really are before rushing into any kind of partnership. Not only should they do a self-evaluation but they should also do the same analysis on potential partners.
“That kind of controlled, competitive search usually yields the best result,” Keith said. He also noted that “sometimes, a hospital’s specific market, doctors, insurance and other factors may align and that partnering with its hospital friend down the street works out well.”